Who's fooling whom on Woodbury housing projects?

By Ralph Caruso In an article printed June 19, two large proposed housing developments for the Town of Woodbury are discussed. The developer, Bill Brodsky, believes the town should ensure that he turns a profit for his private business venture of developing property and building homes. He also wants a zoning change to high density housing to make his property more valuable, so it will command a higher selling price. Just think, he purchased the 178 acres for $3.5 million, or almost $20,000 per acre, and has a contract for an additional 220 acres to be added to the 178 to make up the entire parcel to be built on. Based on the purchase price of the 178 acres, if the 220 acres sells for $20,000 per acre then the 220 acres would cost $4.3 million dollars. The total cost of both properties would be about $7.8 million. If the zoning change is approved, it would add 276 homes to be built on the combined properties across from the Monroe Woodbury High School. It seems easy enough to estimate the increased value of this property, based on the increased number of proposed home sites, from 175 to 451, which relates to at least a 157 percent increase above the purchase price of about $7.8 million and about a $12.3 million profit. Add the profit to the purchase price and the property would be worth at least $20.1 million. Not a bad profit for what Mr. Brodsky calls a simple zoning change. Mr. Brodsky is responsible to make his own business profitable, but the Town of Woodbury should not be assuring Mr. Brodsky and his business a larger profit. If so, they would be called promoters and/or business agents and it would be wrong. Elected officials are representatives of the residents of our community first and must not blur the line that separates private enterprise from government. Mr. Brodsky says he wants to develop the property, and at the same time threatens us with consequences if this project is derailed, followed by an insult to our intelligence by saying, "This is not blackmailing." There are no guarantees Mr. Brodsky will follow through with his proposals. Keep in mind, after the property is rezoned to high-density housing, Mr. Brodsky would realize at the least a $12.3 million profit by selling. Keep in mind Ace Farm, 140 acres, which abuts the property Mr. Brodsky has proposed for a zoning change, sold last year for $12.7 million, or about $90,700 per acre. The numbers point to potentially a great deal of money to be made by Mr. Brodsky if he gets the zoning change he is demanding. No one can predict the actual selling price at this time; however, it's clear it would be significant. Mr. Brodsky purchased this property knowing that it is only zoned to build, at the most, 175 homes. It takes a lot of nerve for this developer to attempt to intimidate the officials and residents of our community because he wants to build more homes than are permitted. Mr. Brodsky must not be allowed to tell our town officials and residents how our town should grow so that he can make a bigger profit. Ralph Caruso lives in Highland Mills.